editorial YOUR MEMBERSHIP MATTERS
Marshal Albright, President/CEO
an owner, you play a critical role in our success. The member-owners of CCEC have certain rights like the opportunity to seek election to serve on the board of directors. If that seems like too big of a commitment, we still want and need you to participate in the annual elections and member events.
Cass County Electric Cooperative is a member-owned, member-governed cooperative. When the co-op was founded back in 1937, members of the community knew that we were a locally-owned business – likely because they or someone they knew played a part in helping found the cooperative. Over time as the novelty of receiving electricity waned, the founders passed on, and new people moved into the community viewing the electric co-op like any other energy provider. However, we are different, and the key to that difference is you, the member-owners of our cooperative. Without your support and commitment, we would not exist. Research proves that when people own something, they treat it differently, which is why we encourage Cass County Electric Cooperative members to act as an owner rather than a customer. As
Member Benefits Each year, because you are a member-owner of the cooperative, when our revenue exceeds our expenses (which is always our goal), a certain percentage is allocated back to you in the form of capital credits. Capital credits, patronage dividends, patronage refunds, are all familiar terms with one similar meaning: the allocation of operating margins as equity. When appropriate, these are retired or returned to the members of the co-op in the form of money or credit on their bill. The retirement of capital credits is one of the most important things we do as co-ops. It’s unique to the cooperative business model, and as such, it can present a tremendous competitive advantage for us, mainly if executed fairly and communicated well. Federal law provides cooperatives with specific preferences and exemptions, such as federal tax-exempt status. To retain the income tax exemption, coops are required to operate on an atcost basis. Capital credits facilitate operating at cost. In 2018, CCEC retired $1.6 million in capital credits for the years 1993 and 1994. While electric power is the commodity that your co-op sells,
2 Highline Notes December 2018
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the real power is that together, we empower this local community. When people feel empowered, they accomplish great things. As a local business, we have a real stake in the community, just as you do. That is why we seek opportunities to support the community. Operation Round Up through the Cass County Electric Cooperative Foundation, is a program funded by the members of the cooperative by rounding their electric bill up to the nearest dollar. Since the inception of ORU, more than $2.5 million has been given back to our communities by supporting non-profits, emergency assistance, and other needs approved by the volunteer Operation Round Up Board. The Board meets quarterly to review and approve grant applications. I thank the ORU Board and Cass County Electric members who contribute to this great program. The world is different today than it was in 1937 when Cass County Electric Cooperative was founded, but our mission of serving you and our community has remained constant. Working together with your active, inspired engagement, we can continue to accomplish great things. Every day, electricity provides comfort, convenience, and connectivity to enhance the quality of life for our members. Have a safe and happy holiday!
